How Wall Street is setting records even with the Iran war still going on

NEW YORK (AP) — It seems so illogical. How can the U.S. stock market be setting records when gasoline prices are still expensive, U.S. households are feeling less confident about the economy and the war with Iran is still going?

But for Wall Street, everything eventually comes back to a different, basic question: How much money are companies making? And at the moment, they’re earning so much that investors are willing to pay higher prices than ever for a piece of ownership of U.S. companies.